Veracode Welcomes The Home Depot CIO Robert Derodes to Board of Directors

Burlington, Mass. and London – June 9, 2008 – Veracode Inc., the world’s leader for on-demand application security testing solutions, today announced the appointment of Robert P. DeRodes, EVP and CIO of The Home Depot, to the Veracode Board of Directors. In expanding its Board of Directors to include DeRodes, Veracode has incorporated the expertise of a highly accomplished CIO who understands the importance of being able to manage security risks in applications whether built in house, developed offshore, or purchased as commercial off-the-shelf software.

DeRodes joins Veracode with 38 years of financial, transportation and retail technology systems experience. He is currently the executive vice president and chief information officer of The Home Depot. Previously, he served as president and chief executive officer of Delta Technology Inc. and as chief information officer for Delta Air Lines Inc. at its world headquarters in Atlanta, Georgia.

“Software security is an enormous problem facing CIOs today, particularly as regulatory requirements increase and software solutions become more complex. Today’s end-to-end solutions are comprised of many, many software components built by various companies across the globe,” said DeRodes. “I appreciate Veracode’s value to CIOs and CISOs as the Company is uniquely positioned to provide a clear and objective assessment of application risk by offering the only automated independent security audit available in the market today.”

“Bob is an accomplished CIO that recognizes the threat that software applications pose to the overall security of an enterprise,” said Matt Moynahan, president and chief executive officer of Veracode. “The addition of Bob to our Board of Directors underscores that Veracode understands the importance that CIOs in every industry are now placing on application security. Bob’s experience in various industries will help ensure that Veracode is best positioned to support CIOs in their quest to minimize and control risk through application vulnerability testing.”

Prior to Delta, DeRodes also served as senior technology officer at Citibank for the Card Products Group, with responsibility for the development and implementation of a global consumer banking platform. He also served as president, SABRE Development Services for The SABRE Group under AMR; and he held various senior technology positions at USAA in San Antonio, Texas.

“We are pleased to have an executive with Bob’s credentials and background join Veracode’s Board of Directors,” said Maria Cirino, Chairperson, Veracode Board of Directors and Managing Director, .406 Ventures. “His financial, transportation and retail expertise will be extremely valuable to Veracode as the Company continues its rapid growth in these markets.”

A native of Wooster, Ohio, Bob received a Bachelor of Science in business administration from St. Louis University, and he received an M.B.A. from the University of Texas in Austin. Bob has served on numerous industry forums, most recently as a senior industry advisor to The Department of Homeland Security and industry advisor to The Secretary of Defense on information technology matters. He is presently an advisor to the Center for CIO Leadership.

About Veracode

Veracode is the world’s leader for on-demand application security testing solutions. Veracode SecurityReview is the industry’s first solution to use patented binary code analysis and dynamic web analysis to uniquely assess any application security threats, including vulnerabilities and malicious code. SecurityReview performs the only complete and independent security audit across any internally developed applications, third-party commercial off-the-shelf software and offshore code without exposing a company’s source code. Delivered as an on-demand service, Veracode delivers the simplest and most-cost effective way to implement security best practices, reduce operational cost and achieve compliance without requiring any hardware, software or training.

Veracode has established a position as the market visionary and leader with awards that include recognition as a Gartner “Cool Vendor” 2008, Info Security Product Guide’s “Tomorrow’s Technology Today Award 2008,” Information Security “Readers’ Choice Award 2008,” AlwaysOn Northeast’s “Top 100 Private Company 2008”, NetworkWorld “Top 10 Security Company to Watch 2007,” and Dark Reading’s “Top 10 Hot Security Startups 2007.”

Based in Burlington, Mass., Veracode is backed by .406 Ventures, Atlas Venture and Polaris Venture Partners. For more information, visit www.veracode.com.

Contacts:
Danielle Palazola
Lois Paul & Partners
781-782-5815
danielle_palazola@lpp.com